So, with Resources A, you can take this at rating 2 Standard, Cerebral Boosters rating 2 and Renraku Tsurugi deck, and still have 125k left over (rather than the 25k you'd have with Wired Reflexes. For this you pretty much gain immunity to be damaged in the matrix, lose 2 dice over hot sim, and d6-2 initiative. You can also pretty much dump the low matrix attribute into data processing, as you can always swap back as needed, not needing it for initiative.
Balance issues aside (a saving of 100k plus essence for using this for it's main purpose for the character), I'd think about how it'll work in play. Say you are decking and then want to shoot someone. In VR, you swap to AR with a change interface mode simple action, lose 3D6 initiative, then shoot with a simple action if you still can. With this, you don't change mode, but if you want to shoot you'd still lose initiative when not doing anything?